Surplus to Success: Max Retail’s Game-Changing Inventory Approach
The Artemis Fund believes technology can create prosperity for all, but it’s not possible without diverse perspectives. Artemis leads seed rounds for diverse tech founders with wild ambitions in fintech, commerce, and care, building the economy of the future.
The Artemis Fund invests in technology that helps small businesses grow and thrive. Small businesses employ nearly half of the U.S. workforce, and among them, two million are women-owned. A common challenge they face is unsold inventory, leading to staggering annual losses. According to a report by McKinsey, 2M sellers across North America and Europe account for $600B in total inventory value. As of 2023, US retailers are sitting on $740 billion in unsold goods.
Traditionally, retailers have tackled this issue with consumer resale platforms, markdowns, and even item destruction. Enter Max Retail, a game-changing b2b inventory management solution empowering small businesses to succeed.
We are excited to share more about our recent investment in Max Retail’s Series A round.
Max Retail’s Innovative Solution
Max Retail offers a groundbreaking solution to help small and large retailers increase cash flow and efficiently move inventory. Max Retail links a retailer’s unsold goods with a massive network of online and offline retailers. This means over 400 million potential buyers can see and buy merchandise, clearing it out faster than ever and driving profits.
Recognizing Max Retail’s potential and unique approach early on, The Artemis Fund invested in their Seed round in September 2022. Recently, Max Retail closed a $15M Series A round, led by Nosara Capital, with participation from Rethink Impact, M13, Stand Up Ventures, and The Artemis Fund.
Transformative Impact, Growth, and The Future
In just twelve months, Max Retail has achieved remarkable milestones. Seller payouts have tripled and GMV has quadrupled year-over-year. Impressively, 89% of active sellers consistently move inventory every month, with smaller sellers making $12K annually and larger sellers exceeding annual payouts of $250K. Since launching, Max Retail has diverted tons of textiles from landfills and recouped $10M for SMB retailers, 90% of which are women-owned businesses.
With this latest round of funding, Max Retail is poised for exponential growth. They are focused on expanding their seller base, particularly within specialty retailers and burgeoning communities. As they strive to become the largest inventory-holding supply chain, Max Retail is on track to transform the retail landscape.
Founders’ Vision and Expertise
Max Retail’s success is propelled by its founders: Melodie van der Baan, Morgan Hatin Bodström, and Damon Ciarelli. Their collective expertise and passion for innovation are the driving forces behind the company’s trajectory.
Melodie’s background as a retailer sparked the idea for Max Retail, fueled by her firsthand experience with the challenges of unsold inventory. Morgan’s proficiency in executive recruiting and retail management complements Melodie’s vision. Damon’s extensive software expertise adds invaluable technical depth to the team, ensuring the seamless execution of Max Retail’s innovative solutions.
Max Retail’s journey exemplifies innovation, resilience, and dedication to empowering small businesses. With a mission to revolutionize inventory management and create opportunities for retailers nationwide, Max Retail is not just a solution; it’s a catalyst for change in the retail industry.
Learn more about the companies in our portfolio on our website. If you’re a founder innovating in fintech, commerce, or care, pitch us here!
